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Bet-at-home Publishes First Quarter 2022 Financial Results

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Bet-at-home has published its financial results for the first quarter of 2022.

Report by the Management Board

Following the challenges of the past fiscal year 2021, the bet-at-home.com AG Group has made a successful start to the new year thanks to the measures and initiatives taken to date. Gross betting and gaming revenue in the first three months of the current financial year amounts to EUR 14.0 million and is thus within expectations for the full year 2022. Our brand is excellently positioned in attractive core markets with high purchasing power. In Germany in particular, we expect the relevant authorities to take rigorous action against unlicensed providers in the foreseeable future. In addition to strengthening our market position in this important core market for bet-at-home, we submitted the application for a national license for online sports betting and online gaming in the Netherlands as planned at the end of March 2022. We expect future licensing in the Netherlands and other markets to provide us with further legal certainty in licensed markets, especially as national licenses will continue to gain in importance in EU member states.

Earnings Development in the First Quarter 2022

Personnel expenses decreased by EUR 0.6 million year-on-year to EUR 4.4 million in the first quarter of 2022 due to the headcount reduction announced in December. At EUR 3.5 million, marketing expenses in the first quarter of 2022 were lower than in the same period of the previous year. The marketing focus in the current financial year will be on the advertising measures surrounding the Football World Cup in Qatar in the fourth quarter of 2022. Other operating expenses in the first quarter of 2022 amount to EUR 5.1 million. EBITDA in the first quarter of 2022 was EUR -1.4 million.

Stable Asset and Capital Structure

Group equity as at 31/03/2022 totals EUR 14.3 million (31/12/2021: EUR 17.0 million). Cash and cash equivalents within the bet-at-home.com AG Group totalled EUR 42.1 million as of March 31, 2022 (December 31, 2021: EUR 42.0 million).

Outlook for the Fiscal Year 2022

The Management Board continues to expect the bet-at-home.com AG Group to generate gross betting and gaming revenue of between EUR 50 million and EUR 60 million in the 2022 financial year. For the financial year 2022, the bet-at-home.com AG Group continues to expect EBITDA to break even at between EUR -2 million and EUR 2 million.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Pavilion Payments Acquires CasinoSoft

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Pavilion Payments, the leading omnichannel payment solutions provider in the gaming industry, has acquired CasinoSoft, a trusted leader in Anti-Money Laundering (AML)/Title 31 compliance, automated tax form processing, jackpot handling and regulatory reporting software. Together, they are building a unified solution that simplifies and modernizes gaming operations.

“We have put 20 years of our heart and soul into building the CasinoSoft brand and are thrilled with the many ways this acquisition moves us to the next level. The success of our robust suite of AML/Title 31 and tax form products is evidenced by the longstanding partnerships we enjoy with our many satisfied customers throughout the industry,” said Matt Montano, Principal and Owner of CasinoSoft.

The new offering combines Pavilion Payments’ seamless player funding and payment ecosystem with CasinoSoft’s industry-leading compliance and automation software. The result is a powerful, vertically integrated platform that streamlines floor, cage and slot operations, making them faster, easier and more secure for casinos, route gaming as well as iGaming and sportsbook operators.

“CasinoSoft is the industry standard for AML/Title 31 compliance, automated tax forms, jackpot processing, and associated reporting services. With this acquisition, we plan to grow the broader Pavilion business with several new patents, innovative products, and transformative solutions that position us as the clear leader in fintech payments, cashless gaming, cage, and floor automation,” said Diallo Gordon, President of Pavilion Payments.

For more than two decades, CasinoSoft has helped casinos streamline Title 31, AML, tax forms and jackpot workflows, keeping operations audit-ready and freeing up staff to focus on the guest experience. By joining Pavilion Payments, CasinoSoft expands its ability to deliver end-to-end compliance and payment solutions within a single, connected system, reducing manual steps and increasing automation.

“At Pavilion Payments, we pride ourselves on offering our partners and customers a vibrant and diverse portfolio of products and services. The addition of CasinoSoft’s products to our lineup furthers our delivery on that goal. We’re delighted to add CasinoSoft to our team and look forward to delighting our customers with them,” said Dan Connors, CEO of Pavilion Payments.

The post Pavilion Payments Acquires CasinoSoft appeared first on European Gaming Industry News.

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TigonBet Enters Kenya’s Betting Market

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TigonBet, a digital sportsbook and casino platform, has officially entered the Kenyan Betting Market.

With gamified features, swipe-to-bet tech and lucrative tournaments, this new platform is putting the fun back in betting, offering speed, interactivity and mobile usability.

TigonBet is backed by a bold brand identity the “Tigon,” a hybrid of lion and tiger. The platform is aiming to blend entertainment with strategic play, catering to both sports bettors and casino enthusiasts.

At the core of TigonBet’s user experience is a Tinder-style swipe feature that allows punters to scroll through match options and betting markets quickly. Built for mobile-first users, the interface reduces friction and aims to make browsing and betting more intuitive.

TigonBet also introduces a tournament system where players can compete in live leaderboards. Whether betting on sports or spinning in the casino, users can climb rankings and win prizes from airtime and smartphones to consoles and TVs. The system is performance-based, meaning consistency is rewarded over high spending.

The post TigonBet Enters Kenya’s Betting Market appeared first on European Gaming Industry News.

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Conjure Up Magical Wins in BGaming’s Cat’s Soup

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Rapidly expanding content provider casts a spell on players with charming new slot Cat’s Soup

Popular iGaming content provider BGaming is stirring up some magic on the reels with the release of its enchanting new slot, Cat’s Soup.

Players are invited into the lair of a playful feline wizard as he brews up a storm across the reels. This captivating 3×3 slot combines classic gameplay with a charming alchemy theme, brought to life by cartoonish graphics and a whimsical soundtrack.

Conjure up magical multipliers and spellbinding Bonus sequences in this simple but incredibly effective slice of slot action. The game’s colourful design and accessible gameplay make it perfect for short, fun sessions, while its magical theme is bound to evoke a sense of nostalgia among millennial players.

In a unique twist, Cat’s Soup keeps the gameplay fresh by using a recipe system that shifts up the patterns required to trigger the bonus round every ten spins. The slot also features a Buy Bonus option for those who want to unleash the magic straight away.

Nikita Zavadsky, Custom Games Product Owner at BGaming, said: “Magic, potions, and cats are popular themes, so we thought, why not combine all three? Cat’s Soup may look like a simple 3×3 slot, but it has plenty of tricks up its sleeves. We are particularly proud of the recipe feature, which does an excellent job of shaking up the gameplay.

Our goal with Cat’s Soup was to create an easy-going slot that was perfect for short-playing sessions and that delivered a healthy dose of nostalgia, and we believe we have achieved that.”

The post Conjure Up Magical Wins in BGaming’s Cat’s Soup appeared first on European Gaming Industry News.

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